Step 1: Heat vegetable oil in a large heavy-bottomed pot or Dutch oven over medium-high heat.
Step 2: Add lamb cubes and brown on all sides, about 5-7 minutes. Remove and set aside.
Step 3: In the same pot, add onions and cook until translucent, about 3-4 minutes.
Step 4: Add carrots and cook until slightly softened, about 5 minutes.
Step 5: Return lamb to the pot, add cumin seeds, coriander powder, turmeric, bay leaves, and salt. Stir to combine.
Step 6: Spread the rice evenly over the meat and vegetable mixture. Gently pour water over the rice without stirring.
Step 7: Bring to a boil, then reduce heat to low, cover, and simmer for 25-30 minutes until rice is cooked and liquid is absorbed.
Step 8: Remove from heat and let rest, covered, for 10 minutes. Fluff rice with a fork, garnish with fresh parsley, and serve hot.