If using store-bought mawa, bring it to room temperature first. Then grate the mawa or make crumbles using your fingers.
Add ghee to a pan once it melts, add the grated khoya. Cook on a low flame. Khoya will begin to melt.
Add sugar to the pan. Continue to saute for 1-2 minutes or till the sugar melts.
Add the chopped nuts along with the saffron strands.
Now add cocoa powder using a sieve to avoid lumps from being formed. Give it a good mix. and keep stirring.
The mixture should not stick to the pan anymore and come together. Do not overcook as then the modaks will turn out dense. Take it off the flame.
Transfer this mixture into a bowl or plate. Allow it to cool down completely. Grease the molds with ghee/butter/oil.
Stuff each side of the mold with the mixture.
And press it tightly. Remove any excess. Open the mold and carefully remove the modak out of it.
Repeat the steps until you finish making all the modaks. Grease the mold with ghee every time, before stuffing the mixture.