Soak cut beetroot and potatoes in water in separate bowls. Keep aside.
Place the beetroot and potatoes in separate bowls, each with enough water to cover. Set aside to soak until you need them.
Heat oil. Add mustard seeds, cumin seeds, urad dal, and red chilis. Fry for 30 seconds, or till the seeds start to splutter. Add asafoetida powder and curry leaves. Fry for a few seconds more. Drain the beets and potatoes. Add them to the frying pan. Fry for 5 minutes, cover, and cook till potatoes and beets are soft, about 20 minutes.
Heat the oil in a large frying pan over medium-high heat. Cook the lentils, mustard seed, cumin seed and red chillies in the hot oil until the seeds begin to sputter, about 30 seconds. Stir the asafoetida and curry leaves into the mixture and cook another few seconds.
If there is excess water in the pan, cook for a few minutes on high heat till water evaporates. Add red chilli powder and coconut. Mix well. Serve.
Drain the beetroot and potatoes and add to the pan. Cook and stir until they begin to brown, about 5 minutes. Reduce heat to medium-low, cover, and continue cooking until the potatoes and beetroot are soft, about 20 minutes more. If there is excess water in the pan, increase the heat to high and cook until the water evaporates completely. Stir the red pepper and coconut into the mixture and serve immediately.