In a kadhai or heavy bottomed pan, heat the khoya over medium heat till it all comes together to one solid mass.
Add the coconut, sugar, cardamom and saffron and cook till the sugar has melted and it absorbed with the khoya. It should be a loose dough like consistency.
Remove from heat and let it cool, till it comfortable to work with.
Use a modak mold or with your hands shape into a conical structure. Fill one or two chocolate chips in each modak and shape it again.
If required, keep it refrigerated for about 10 mins to help it set.