Remove and discard the first few layer of petals covering the banana flower and use the flowering buds found inside the petals.
The petals are discarded as they are very fibrous in nature. Chop the rest of the flower into very fine pieces. Heat oil in a pan and add mustard seeds.
When the mustard splutters, add the red chili and fry for a minute. Add the chopped banana flower and a cup of water. Cook covered for at least 30 minutes or till it is soft.
Add gur or sugar and salt and cook for another 5 minutes. Garnish with grated coconut and serve hot.