Soak almonds in hot water and peel the skin. Grind with 1/2 cup milk and keep it aside.
Boil the remaining milk, add the almond paste and simmer. When the milk becomes thick, add the condensed milk and simmer more for 10 mins.
Adjust sweetness if required.
Heat a pan with butter, add the almond slivers and roast well. Then pour this over the simmering kheer and serve hot or chilled.