In a pan add condensed milk on medium flame.
Add coconut milk and let it simmer for 10-12 minutes. You can see the coconut milk coming together with condensed milk.
Now add a little water to corn flour and mix it without any lumps.
Pour this corn flour mix to the boiling mixture. Keep stirring for another 5 minutes. You can actually see the mixture thickening.
Now remove from flame and add almond powder and desiccated coconut. Let the mixture cool to room temperature.
Once cooled down, pour this mixture into kulfi moulds and let it set in refrigerator for couple of hours.
Unmould the kulfi and roll it in the desiccated coconut mixed with powdered sugar and serve immediately.
Chilled coconut kulfi is ready.