Preheat the oven to 200 degrees celcius. Heat 1 Tbsp of the oil in a large frying pan, add the asparagus and fry for 3-4 minutes until browned. Sprinkle over the paprika. Transfer to a shallow ovenproof dish using a slotted spoon.
Add the remaining oil to the frying pan and fry the onion and garlic for 4-5 minutes, stirring occasionally. Add the tomatoes, red chili pepper and sugar. Season with salt and pepper and cook for 2 minutes. Spoon over the top of the asparagus and put on the bottom shelf of the oven.
Put the risotto rice into a non-stick roasting tin, cover with the boiling water and stir in the saffron. Cover with foil and place in the oven on the shelf above the asparagus. Cook for 20-25 minutes until the rice is just cooked and the asparagus is tender.
Fluff up the rice with a fork and spoon onto warmed individual plates. Spoon over the asparagus and tomatoes and garnish with the basil leaves.