Place pitted cherries, sugar and water in a medium saucepan over medium-high heat. Cook, stirring, for 6-8 minutes or until the cherries soften and the mixture thickens. Remove from heat. Leave to cool slightly. Place the mixture in a blender and process until smooth. Set aside.
Place cream, condensed milk, evaporated milk, cardamom, half of the cherry mixture and saffron (if using) in a blender. Blend until smooth. Transfer kulfi to a freezable container. Add remaining cherry mixture to the kulfi and gently swirl to create a ripple effect.
Cover the container with an aluminium foil. Place in the freezer for 4-5 hours or until firm.