Peel and chop the carrots roughly.
Cook it along with the water in a pressure cooker for three whistles.
Switch off and allow the pressure to go by itself. Using a hand blender, blend into a paste.
In a saucepan, pour in the milk and bring it to a rolling boil.
Keep on medium low flame and continue boiling, stirring constantly till the milk reduces to 3/4.
Add in the carrot juice and mix well and continue cooking for a further 10 minutes.
Add in the sugar and cardamom and mix well.
Coarsely grind the nuts in a grinder.
Add this to the payasam. When you mix, the payasam starts looking little thicker.
Cook for five minutes and switch off.
Heat ghee. Fry the cashew nuts, then puff up the raisins. Add into the payasam.
Serve warm or cold - either ways it is delicious!