Grate the carrots either using a hand grater or a food processor.
Warm the ghee in a large pot. Add the grated carrots and saute for about 5 minutes until they soften, stirring constantly.
Add the milk and bring to a boil. Reduce the heat to low and simmer, partially covered, for 2-3 hours until all the milk is absorbed and there is no liquid left. Stir occasionally to avoid sticking to the bottom of the pot.
Raise the heat to medium and add the sugar. Cook for 30 minutes more, stirring occasionally, until the sugar melts.
Add the cardamom, almonds, and raisins. Cook 15-20 minutes more until the mixture gets really dry and starts to pull away from the sides of the pot. Keep stirring actively at this point because it can easily burn.
When done, remove from the heat and let cool. Serve either warm or chilled garnished with some chopped pistachios. Enjoy!