Wash and soak the rice in the water for 3 to 4 hours overnight.
Grind the rice to a fine paste using water sparingly. Add coconut and salt and run the mixer until the coconut is well blended. ( Depending on the grinder you use, you may need more or less water. Use as much as you need to get the job done but less the better. If the batter is thin, you will have to spend some more time in step 3, that's all)
Transfer the mixture to a non-stick pin smeared with ghee and cook it over a medium flame, stirring continuously till the batter is solid enough to be rolled into balls.
Pinch out lemon sized balls of the dough and roll into a ball and slightly flatten it as shown in the picture below. Continue till all the dough is used up.
Transfer them into the vessel of your choice and steam them (see notes) for 15-20 minutes until cooked.
Check for doneness by inserting a toothpick and if it comes out clean, the Pundis are ready!