In a bowl add milk, condensed milk, yogurt, custard powder and cream. Mix well until all incorporated. Add in grated carrots, caramel essence and walnuts and mix well. Transfer in the greased bowl and tap couple of times. Cover with foil or lid and steam for 35 to 40 minutes. Check with a toothpick. If it comes out clean its done. Turn off the gas and let it rest for 15 minutes. Once it is cold refrigerate for about 4 to 6 hours.